The boss of the world’s largest money manager made $27.95 million for his 2017 performance, an increase of 10%, after a banner year for the firm.

BlackRock Inc. Chief Executive Laurence Fink was awarded a $10 million cash bonus and stock compensation of $17.05 million in 2017, according to a regulatory filing Friday. His base salary was $900,000, the same as the prior year.

Last year was a strong one both for new client cash at BlackRock and the firm’s stock as markets rose. It pulled in a record net inflows of $367.3 billion, 67% of which went to its iShares exchange-traded fund business.

BlackRock shares climbed 35% in 2017 to $513.71, breaking the $500 mark for the first time.

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“Assets under management have been strong,” for publicly traded money managers, said Debra Brown, a member of Russell Reynolds Associates’ investment-management practice. “Margins have been under pressure, but they haven’t succumbed to all of those pressures yet,” she added, referring to the growing popularity of low-cost market mimicking funds.